Positive change in Banks’ Lending to SMEs as 56% successful

Positive change in Banks’ Lending to SMEs as 56% successful

Only 5% of SMEs satisfied with Government intervention in SME lending.

Faster lending decisions to be welcomed.

Cost of banking increasing, as 55% suffer increased bank charges.

Strategic Investment Bank/Fund required to support economic recovery.

ISME, Monday 10th June 2013.

The latest ISME Quarterly Bank Watch Survey, issued today, (Monday 10th June), shows an increase in demand and an improvement in availability of bank credit; the best results in four years. In addition, the delays in decision making by banks has improved with the average wait down to four weeks from the previous five. The Association welcomed the positive changes and urged the banks to continue their efforts to reduce their refusal rates to previous norms to assist the economic recovery.